JOURNAL ENTRY

1-May Cash 5,666,000.00

Merchandise Inventory 475,000.00
Equipment 117,800.00
Alcher, Capital 6,258,800.00

3-May Equipment 1,600,000.00

Supplies 42,070.00
Cash 1,642,070.00

6-May Purchases 1,134,000.00

Accounts Payable 1,134,000.00

7-May Cash 580,000.00

Sales 580,000.00

8-May Freight in 19,620.00

Cash 19,620.00

9-May Accounts Receivable 60,650.00

Sales 60,650.00

10-May Freight out 850.00

Cash 850.00
Accounts Payable 17,000.00
PR&A 17,000.00

13-May Purchases 260,000.00

Accounts Payable 260,000.00

14-May Accounts Receivable 75,125.00

Sales 75,125.00
SR&A 5,125.00
Accounts Receivable 5,125.00

15-May Accounts Payable 1,117,000.00

PD 22,340.00
Cash 1,094,660.00
Salaries 44,980.00
Cash 44,980.00

16-May SR&A 12,500.00

Accounts Receivable 12,500.00

19-May Cash 25,000.00

Accounts Receivable 25,000.00
Cash 47,187.00
SD 963.00
 Accounts Receivable 48,150.00

21-May Cash 95,950.00

Sales 95,950.00

23-May Accounts Receivable 893,750.00

Sales 893,750.00

26-May Cash 50,125.00

Accounts Receivable 50,125.00
Alcher, Drawing 560,000.00
Cash 560,000.00

27-May Cash 200,000.00

Notes Payable 200,000.00

28-May Accounts Payable 160,000.00

Cash 160,000.00
Utilities 36,220.00
Cash 36,220.00

30-May Salaries 44,860.00

Rent 48,000.00
Utilities 10,500.00
Cash 103,360.00

31-May Merchandise Inventory 499,100.00

Income Summary 499,100.00
 LEDGER
Debit Credit Balance
CASH
1-May 5,666,000.00 5,666,000.00
3 1,642,070.00 4,023,930.00
7 580,000.00 4,603,930.00
8 19,620.00 4,584,310.00
10 850.00 4,583,460.00
15 1,094,660.00 3,488,800.00
15 44,980.00 3,443,820.00
19 25,000.00 3,468,820.00
19 47,187.00 3,516,007.00
21 95,950.00 3,611,957.00
26 50,125.00 3,662,082.00
26 560,000.00 3,102,082.00
27 200,000.00 3,302,082.00
28 160,000.00 3,142,082.00
28 36,220.00 3,105,862.00
30 103,360.00 3,002,502.00 db

Accounts Receivable
9-May 60,650.00 60,650.00
14 75,125.00 135,775.00
14 5,125.00 130,650.00
16 12,500.00 118,150.00
19 25,000.00 93,150.00
19 48,150.00 45,000.00
23 893,750.00 938,750.00
26 50,125.00 888,625.00 db

Merchandise Inventory
475,000.00 475,000.00 db
499,100.00 499,100.00
Supplies
42,070.00 42,070.00 db

Equipment
117,800.00 117,800.00
1,600,000.00 1,717,800.00 db

Accounts Payable
1,134,000.00 1,134,000.00
17,000.00 1,117,000.00
260,000.00 1,377,000.00
1,117,000.00 260,000.00
160,000.00 100,000.00 cr

Notes Payable
 200,000.00 200,000.00 cr

Alcher, Capital
6,258,800.00 6,258,800.00 cr

Alcher, Drawing
560,000.00 560,000.00 db

Sales
580,000.00 580,000.00
60,650.00 640,650.00
75,125.00 715,775.00
95,950.00 811,725.00
893,750.00 1,705,475.00 cr

SR&A
5,125.00 5,125.00
12,500.00 17,625.00 db

SD
963.00 963.00 db

Purchases
1,134,000.00 1,134,000.00
260,000.00 1,394,000.00 db

PR&A
17,000.00 17,000.00 cr

PD
22,340.00 22,340.00 cr

Freight in
19,620.00 19,620.00 db

Salaries
44,980.00 44,980.00
44,860.00 89,840.00 db

Utilities
36,220.00 36,220.00
10,500.00 46,720.00 db

Rent
48,000.00 48,000.00 db

Freight out
850.00 850.00 db
 Trial Balance

CASH 3,002,502.00
Accounts Receivable 888,625.00
Merchandise Inventory 475,000.00
Supplies 42,070.00
Equipment 1,717,800.00
Accounts Payable 100,000.00
Notes Payable 200,000.00
Alcher, Capital 6,258,800.00
Alcher, Drawing 560,000.00
Sales 1,705,475.00
SR&A 17,625.00
SD 963.00
Purchases 1,394,000.00
PR&A 17,000.00
PD 22,340.00
Freight in 19,620.00
Salaries 89,840.00
Utilities 46,720.00
Rent 48,000.00
Freight out 850.00
8,303,615.00 8,303,615.00
Cost of Goods Sold

Beg Inventory 475,000.00

Purchases 1,394,000.00
Less: PD 22,340.00
PR&A 17,000.00 39,340.00
Net Purchases 1,829,660.00
Add: Freight In 19,620.00
Cost of Goods Sold AvAilAble for sAle 1,849,280.00
Less: Inventory End 499,100.00
COGS 1,350,180.00

STATEMENT OF FINANCIAL PERFORMANCE

Sales 1,705,475.00
Less: SD 963.00
SR&A 17,625.00
Net Sales 1,686,887.00
Less: COGS 1,350,180.00
Gross Income 336,707.00
Less: OperAting Expenses
SAlAries 89,840.00
Utilities 46,720.00
Rent 48,000.00
 Freight out 850.00
Net Income 151,297.00

CHANGES IN OWNER'S EUITY

Alcher, CApitAl -
InitiAl Investment 6,258,800.00
Less: DrAwing 560,000.00
TotAl 5,698,800.00
Add: Net Income 151,297.00
Alcher, CApitAl 5,850,097.00

CASH FLOW

OPERATING ACTIVITY
Cash Received
Sales 675,950.00
Collection of ReceivAbles 122,312.00
Cash Payment
Supplies 42,070.00
PurchAses 475,000.00
OperAting 185,410.00
Refund 19,620.00
Freight 850.00
Net IncreAse in Cash from OperAtion 75,312.00

Equipment (1,717,800.00)

Financing activities
Initial Investment 5,666,000.00
Drawing (560,000.00)
Notes Payable 200,000.00
Cash & Cash Euivalent 3,663,512.00

Financial Position

Current assets
C&CE 3,663,512.00
Accounts Receivable 888,625.00
Inventories 499,100.00
Supplies 42,070.00
Non-current assets
Euipment 1,717,800.00
TOTAL ASSETS 6,811,107.00

Current LiAbilities
Accounts PAyAble 100,000.00
Notes PAyAble 200,000.00
Owner's Euity
Alcher, CApitAl 5,850,097.00
TOTAL LIABILITIES & EUITY 6,150,097.00

661,010.00